Both the medal and the regulations are a copy of the Austro-Hungarian bravery medal in WW1 as I described in my earlier blog. The medal consists of 4 grades, Bronze, Small Silver (or second class silver), Large Silver (first class silver) and Gold.
The medal was aimed at ranks below officer but the Gold grade could also be awarded to officers who would receive a special device to the ribbon. Officers in training could be awarded all grades of the medal untill they would get commissioned.
The Bronze and Small Silver grade had the same size of 35mm and the Large Silver and Gold grade both measure 40mm. For the silver grades I have so far found three materials – real hallmarked silver, silvered bronze which also has the word BRONZ impressed on the rim and the war metal version without any markings.
It seems the silvered bronze version had a regular problem with the eyelet as I have two version where it came off and I have seen several more on the market. These all seem to be the version with BRONZ stamped in the rim.
So far I have not handled a gold one but as far as I understand both hallmarked gold and a gilded bronze versions exist.
The front bears the bust of Regent Horthy Miklós. The reverse shows the national symbol of Hungary with crossed swords behind and the word VITÉZSÉGÉRT – bravery.
The ribbon is the standard triangular form and could have tow types of devices. A bar for repeat awards (up to three bars!) and a golden device for officers.
The award paper is basically the same for all grades with the different grade being mentioned.
The large silver grade has become quite rare and is sought after. Copies do exist for all grades using the same mold. A comparison can be found here, the website is in Hungarian but has great content!
Compiled from the same website a quick overview of the amounts awarded per year. It seems many men who died in combat also received the bronze or silver 2nd class medal posthumously.